Author Archives: Carol Jones

Isles of Scilly Bed & Breakfast

The dream – A Bed and Breakfast on The Isles of Scilly – it came true!

Kelly and Kevin had a dream of owning their own bed and breakfast in the Isle of Scilly and weren’t sure it would be a possibility. They knew the town of St Mary’s well and when they found their perfect property there they couldn’t believe their luck.  They contacted us to see what they could borrow and if it was possible for them to sell up on mainland UK and move over.  Well, they have done it with the help of us here at Stewart Hindley & Partners!

The first step was for Kelly to send us the property details and accounts for the business they wanted to buy and we then helped them by assessing how fundable the deal would be.

Crebinick House was a traditional Grade II listed building which had been extended at the rear to provide a large 9 bedrooms property consisting of 6 spacious guest rooms and 3 bedroomed owners’ accommodation.  The guest house was well established and had a number of returning guests as well as excellent online reviews.

The only downside was that there had not been a focus on trade for a couple of years due to the current owners’ ill health and pending retirement. This meant the deal would be reliant on projections which always makes the deal a bit more of a challenge.  Lenders tend to look at projection led deals as more high risk and are slightly more reluctant to lend on them.

Because Stewart Hindley & Partners specialise in the hospitality sector we understand what are standard and achievable costs for a bed and breakfast or guest house.  We are able to provide lenders with realistic projections which show that the business is capable of building the trade and, importantly, can cover the debt service going forward.

We submitted the deal and after a bank meeting and acceptable valuation report the deal was offered.  Kelly and Kevin completed their purchase and started living the dream in February 2019.

There is a lot going on in the Isles of Scilly so if you are visiting why not stay at Crebinick House where you are assured of a warm welcome.

https://www.crebinick.co.uk

What Kelly and Kevin say about us…..

We fell in love with Crebinick at first sight and desperately wanted to make it our home and business.  After a depressing conversation with a business manager at a local bank, due to the previous few years’ deliberately low trading figures, it seemed we would need professional help to persuade a lender of the potential of the business in order to get our dream off the ground.  Stewart Hindley had a great reputation for assisting in situations such as ours and from our first conversation with Chris we were filled with hope that a lender might believe in Crebinick as we did.  Chris’ experience ensured that he approached the right lender for us with the right information and ultimately we were successful in getting the finance we needed.  We don’t think we could have managed it without Stewart Hindley or, at least, certainly not in time to begin the 2019 season as we have done!  Thanks for all your help.  

Kelly & Kevin

Crebinick

Love Whisky? You will love The Gables B&B

Bed & Breakfast for the Whisky Lover!

Our clients Siebette and Anne-Jan contacted us in May 2018 to ask about hospitality finance as they were looking at moving from Holland to Scotland to fulfill their dream of owning and operating a whisky themed bed and breakfast.  Both of them have an in depth knowledge of the Whisky industry and have their own impressive collection from which they offer tasting sessions!

After much searching they found The Gables in Dufftown a perfect location as it is on the famous Whisky Trail.  The Gables was an established bed and breakfast but was traded very much to suit the owners so there was no focused effort on the trade which meant limited accounts and made the deal just that little bit more challenging.  We were able to position the deal showing realistic and achievable projections for when Siebette and Anne-Jan took over.

The process of the loan application went through fairly seamlessly, however, there were some issues during the legal work stage and these have caused some major delays.  The loan was offered in September and instead of being able to complete and move in at the beginning of December, which would have timed well with their house sale and move from The Netherlands, they have had to wait until February 2019 for the legal paperwork to be sorted out.  This obviously caused some major stress not least because they were moving country as well (as home) and they were also ready to go with a new website and links to the distilleries in the area – it seemed it was all systems go!  It was a very frustrating time.  Stewart Hindley & Partners tried to assist them by continuing to engage with the lender and suggesting ways that things could move forward.  Eventually the dream came true and they became the owners of The Gables on 30 April 2019!

To cut a long story short, they are now trading well and offer their guests themed packages such as:-

  • Whisky & Chocolate
  • Whisky & Cigars
  • Whisky & Cheese
  • Don’t Drink & Drive Whisky Tours

In addition to the Whisky there are a host of other things to do in the area, Walking, Skiing, Fishing and Golf to name a few.  Why not visit their website to find out more….

https://www.thegablesbb.co.uk/

https://www.facebook.com/thegableswhiskybb/

What Siebette and Anne Jan say about Stewart Hindley & Partners…

It has been our dream for years to run a whisky themed B&B in Speyside/Moray. All though we did a lot of research ourselves and developed the outline of a business plan, it was difficult for us – being Dutch and without experience in starting a hospitality business – to come up with the necessary figures and obtain funding. We almost give up on our dream when we heard of Stewart Hindley and contacted them. They reviewed our ideas and financial situation and advised our dream was possible. They helped us with our business plan and knew which lenders to approach. They supported us at every step in the process, both with their extensive expertise and – equally important – mental support. We could trouble them with any question we had, answers were always provided quickly and in a way we exactly understood what was going on. After obtaining the commercial mortgage there were problems in the conveyancing of the property we had set our eyes on. All though beyond the scope of their service Stewart Hindley kept in touch with us and relevant parties, they did everything they could to help us to get this sorted. And in the end, all came right and we are now the proud owners of The Gables Whisky B&B. Carol, thank you so much for everything, we could not have realised our dream without you!

Kind regards,

Anne Jan & Siebette

The Coach @ Edenfield – Great Gastro Pub

Our client wanted a quick purchase when he found the Coach at Edenfield and decided using an experienced hospitality broker was the way to get the best rates and the required amount of funding.

Dan was an experienced Bar/Manager who had a wealth of diverse bar trade experience.  It was his dream to own his own destination venue pub.  He found the property he wanted but needed to move fast.  We worked with Dan to provide a loan proposal which met the lenders criteria and showed his experience, the potential of the business and plans for the future.

The process was helped by the fact that Dan provided all the information we required promptly, in usable formats and was available to meet with the lender at short notice.  The whole process took 6 weeks from start to finish which is an exceptionally quick time and included having to get the valuation report carried out and produced.

Located on the outskirts of Ramsbottom, in the village of Edenfield, The Coach is the perfect place in which to socialise and relax with friends and family. A warm,  comfortable and welcoming pub with a menu that mixes up the traditional and the slightly more progressive with dishes of real ambition – served by a young and attentive team. Why not book a table and see for yourself.

https://thecoachatedenfield.com/

What Dan says about Stewart Hindley & Partners..

I was recommended Stewart Hindley as I was told that they specialise in obtaining debt for the hospitality sector. Upon speaking to Chris for the first time I was told that they would do everything they could to obtain the loan to value ratio that I requested. It took no time at all for a suitable creditor to be found and, with an incredible short time-frame to work with, Chris was able to get everything across the line in time for me to start trading by Christmas 2018.

I can’t recommend their team highly enough!

Betws-y-Coed in North Wales – It took a while but they got there!

It was 2016 when Gidon and Izabela first contacted us to discuss bed and breakfast finance. They had attended a bed and breakfast course run by Karen Thorne at Hopton House in Shropshire and had decided to buy a bed and breakfast in the Shropshire area.  Unfortunately it took a while for them to sell their property and the original concern they were interested in was snapped up by another buyer.

Eventually they found a buyer and started looking again in earnest, however, this time they focused on the Lake District and North Wales (both excellent and beautiful locations!).  After a few disappointing starts they settled on Afon View in Betws-y-Coed, North Wales and their dream really started to materialise.  They completed their purchase and moved into Afon View in December 2018!

Afon View has 7 lovely letting rooms and guests are sure of a warm welcome from Gidon and Izabela.

Afon View is located in a village that attracts outdoor enthusiasts from around the world and is one of the main places to stay in Snowdonia.  Whether you are a walker, climber, kayaker, cyclist  or angler there are loads of places to visit and things to do in the area.

https://www.afon-view.co.uk/

North Devon Bed and Breakfast

Vanessa & Phillip Moyle had previously let out just one room of their house in Salcombe in South Devon and after some time decided that they wanted to use their love of meeting people and their hospitality skills to develop a business in the popular North Devon coastal village of Lynton.

They spent some time looking for the right property and eventually settled on a 4* guest house, Rockvale House.  Rockvale House had been owned for a number of years by the same people and was traded very much to suit their personal requirements.  This presented a great opportunity for Vanessa & Phillip to purchase a well-established 8 bedroomed Guest House located in the heart of Lynton and within the Exmoor National Park with great views.

As the concern had been traded for just 6 months of the year and often closed during peak times the accounts did not reflect the true potential of the business which can make it a challenge to fund from a lenders point of view.  As we, Stewart Hindley & Partners, are specialists in hospitality finance we were able to present a solid case to the lender with achievable goals and projections showing that debt service could be met.

Vanessa and Phillip completed on their purchase in December 2018 and are now looking forward to operating the business on a year round basis and sharing the beauty of North Devon and Exmoor with their guests and, of course, meeting lots of new and interesting people along the way!

If you are looking for a warm welcome, comfortable stay and panoramic views  why not choose Rockvale House on your next visit to the area!

https://rockvalelynton.com/

What Vanessa & Phillip say about Stewart Hindley & Partners….

From the first moment we contacted Stewart Hindley & Partners and spoke to Carol and then Mike Cox they could not have been more helpful, they were straight on the case working at such a speed it was brilliant.  Mike took away so much pressure and stress normally associated with a purchase like this, he spoke to us in such an open and honest way it was really refreshing.  His professionalism was superb and we are very grateful to him.  We know Carol did so much behind the scenes too.  We have no hesitation in recommending Mike Cox at Stewart Hindley & Partners 100 per cent. 

Thank you

Ness and Phil, Rockvale House

 

Cambridge Bed & Breakfast (formerly Harry’s B&B)

Selma & Anel Begic started talking with us in April 2018 when they were looking for a suitable bed and breakfast to purchase.  They eventually found one in June and instructed us to work with them to purchase the concern in July.

The bed and breakfast was well established and had been operated by the same owner for a number of years.  It was ready for some refurbishment which meant that Selma and Anel had the perfect opportunity to purchase a popular B&B in a prime location and which had room for improvement and business development.

The whole process proceeded reasonably smoothly with us supporting and guiding Selma and Anel through all the different stages and they completed their purchase in October 2018.  They have renamed Harry’s B&B and it is now called Cambridge Bed and Breakfast.

The location of the Bed and Breakfast is ideal for visitors to the Cambridge Business Park, most of the colleges of Cambridge University and is just 5 mins away from the river Cam and Jesus Green park, through which you can take a scenic walk to the beautiful town centre.  So, wherever you want to visit in Cambridge it is an ideal place to stay in.

www.cambridgebedandbreakfast.co.uk

What Selma & Anel say about Stewart Hindley & Partners….

I would absolutely recommend Stewart Hindley’s expertise in commercial mortgages. 

Mike Cox was excellent in keeping the process rolling and being professional even in difficult times. The rates offered saved me money in the long run, exactly what we needed with a new business. 

Mikes help with the business plan and the banking interview process was invaluable. 

Thank you for all the help and support! 

Boscastle B&B with Tea Rooms

Louise and Richard contacted us originally in August 2017 as they were looking to purchase a holiday lodge site.  Unfortunately this purchase didn’t progress but after much searching they found Bridge House in Boscastle, Cornwall.

Bridge House is a substantial stone property with popular tea rooms and guest accommodation.  Louise & Richard fell in love with it and decided this was the property for them so it was full steam ahead.

Stewart Hindley & Partners submitted a comprehensive loan proposal outlining Louise & Richards plans for the business going forward and including all historical and projected finance information.

After a successful bank meeting the loan was offered subject to valuation.  Valuers were appointed by the bank and valuation was undertaken and the report duly received.  Thankfully the valuation was positive and the purchase was completed after all the legal work was undertaken.

Louise & Richard moved into the property in July 2018 so had to hit the ground running over the busy Summer period.  If you need accommodation or something to eat in Boscastle you know where to get a warm welcome and a cup of tea!

http://www.bridgehouse-boscastle.co.uk/

St Ives Hotel Dunoon – 1 year on

Katia and Jonathan Smith decided they wanted to run a bed and breakfast in Scotland and after researching the areas and looking at what was available they decided to purchase the St Ives Hotel in the coastal town of Dunoon.

The hotel was in a good location being close to the sea and town facilities and had been run by the owners for 33 years.  The owners decided it was time to retire which provided Katia and Jonathan a great opportunity to purchase a going concern with plenty of potential in increase the trade.

Both Katia and Kevin worked in professional roles in London and had excellent transferable skills so although they had never run a bed and breakfast before they had great interpersonal  skills and Katia had a good level of online marketing experience which was  shown in by her work with MumsNet.

We worked closely with Katia to progress the purchase and  we are pleased to say that they began trading in August 2017 since which time they have upgraded the rooms and have achieved excellent Trip Advisor reviews including a Certificate of Excellence for 2017!  A great achievement in their first year of trading.  It is definitely the place to stay if you are in Dunoon!

Visit St Ives website  https://www.stives-hotel.co.uk/

Bunkhouse in Portland

Sally Robinson and her partner Tony had worked in the hospitality trade in a variety of ski/holiday resorts and wanted to use their experience to run their own business.  They came across a niche business in Portland in Dorset which was a bunk house catering for divers who regularly visit the area and decided that this was the business they wanted.

Bunkhouse accommodation may be basic but it is a very affordable option for those looking for a comfortable but cheap place to stay.  A warm, friendly welcome after a hard day diving, climbing, sailing or walking is just what is needed when you want to relax and recover from an active day out.

The property had been run successfully by the current owner to suit her lifestyle and was not being marketed to its full potential as there was a very limited website and no social media presence.  As with many bed and breakfast businesses the trade was limited but the good news was this provided Sally and Tony with a great opportunity to buy a trading business which had the capacity to increase turnover.

The purchase did present a few challenges but by working with us at Stewart Hindley & Partners these were overcome although it did take some time!  Stewart Hindley & Partners presented trade projections which were seen as being achievable and representative of the industry.

Our unique knowledge of the hospitality trade means we are able to provide lenders with deals which are not only projection led but are realistic to the trade.  Our track record with the lenders means they can trust the information we provide them.

Sally and Tony will be widening their market from just the diving community to include climbers, walkers, sailing enthusiasts and basically anyone who wants comfortable budget accommodation.

https://www.thebunkerportland.com/

Hungry Jobs – Specialists in the Hospitality Sector

What can HungryJobs do for you?

HungryJobs is a UK based job board which specialises in the hospitality industry. With so many job boards and recruitment websites nowadays, it can be hard to know where to post jobs in order to fulfil your recruitment needs. HungryJobs stands out in a saturated market for the following reasons:

  1.  Low cost job adverts. With adverts costing just £20 they are extremely cost effective and also offer discounts when purchasing several adverts at once.
  2. Screening questions. You have the option to set several screening questions meaning you should only receive applications from candidates most suited to the role.
  1. CV builder. Candidates have the option to build their own CVs if they do not already have one. Employers will therefore receive a detailed overview of a candidate’s previous experience.
  1. Social media presence. HungryJobs is active on Facebook and Instagram and often share job adverts on these platforms meaning your advert reaches a larger audience.
  1. Translation of job adverts. HungryJobs is happy to arrange for the translation of job adverts where required and can be contacted directly about this via their website.

Finally, the design of the HungryJobs website stands out as a modern platform which will attract candidates to apply for your positions. Visit the website today at www.hungryjobs.com and see for yourself.